[IntraFish, April 2013] Saudi Arabia based National Aquaculture Group is planning major finfish aquaculture expansion by farming barramundi, seabream and amberjack in the Red Sea, targeting 100,000 metric tons of production within 10 years. National Aquaculture Group which farms 15,000 metric tons of shrimp a year -- is expanding to finfish to "develop its business worldwide," a company representative told IntraFish. "The 10-year project includes the culturing of barramundi, amberjack and European seabream," the spokesperson said.
Commercial harvest will start in 2014 with 11,000 metric tons of fish for the Saudi Arabia, Middle East North Africa (MENA), Asia, US and European markets.
The fish will be grown in offshore farms in the Red Sea, "a pioneer project in Saudi Arabia at a big scale," and the company highlighted that this expansion would create significant employment opportunities, especially benefiting Saudi women through the company’s planned hatchery and processing operations.
National Aquaculture Group’s main markets are Saudi Arabia, the United Kingdom, Spain, Italy, Japan, Korea, the United States, China and Australia.
The company will also increase its shrimp capacity in 2013 to "fulfill market needs for the HORECA (hotels, restaurants and catering) sector, as well as increased demand in retail, wholesale, auction markets and trading."